Teams must be currently enrolled Bradley University students (graduate or undergraduate, full-time or part-time). A team can have no more than five students; individual entries are permitted. One team member substitution will be permitted with approval from the director. Any changes to the team makeup must be presented for approval in writing to the competition director.

Teams may enlist assistance from other students, faculty, and advisors (mentors will be assigned to teams), but only the team members may produce the plans, make oral presentations, and share the winnings.

All work produced must be original, i.e., the business plan assumptions and estimates must be derived from well-constructed, logical arguments supported by data-driven information. Sources of information must be cited. (Please review rules of plagiarism.) Should a team decide to enter a previous class assignment in the Project Springboard New Venture Competition, all [previous] members must approve the submission.

The competition is for new, for-profit, independent ventures in the seed, start-up, or early growth stages, with no booked revenues (at the time of filing the Letter of Intent). Proposals for the buy-out or expansion of an existing company, spin-offs of existing companies, and consulting companies are not eligible; purchasing a franchise as a franchisee is not elligible. Creating a new franchise business that is not a growth strategy of an existing business is elligible. Social ventures are also elligible. The Springboard New Venture Competition Board reserves the right to disqualify, at any time, any team that violates any of the rules, or the general spirit of the competition.